Docklands property tycoon sees value of empire rise

A low-profile Docklands property tycoon has seen the value of his empire swell to £1.5 billion, it emerged on Thursday.

Yianis Holdings, which is known for its buildings in Canary Wharf and is owned by entrepreneur John Christodoulou, said the portfolio value was up 25% in the 12 months to April in a buoyant London rental market.

Christodoulou came to London in 1974 as a boy when his family fled the Turkish invasion of Cyprus. His first buy was a north London bedsit, and today he counts the Marriott Hotel in Canary Wharf and luxury flats on the Thames among his assets.

His company has posted a 11% fall in pre-tax profits to £4.6 million. But it remains bullish and said it expects to keep increasing revenues and property investment values in the “foreseeable future”.

Christodoulou has an estimated fortune of £1.5 billion according to the Sunday Times.

He could not be reached for comment.